Lifeblood Medical, Inc. To Receive Department Of Defense Funding

FREEHOLD, N.J., Oct. 17 /PRNewswire/ -- Lifeblood Medical, Inc. is pleased to announce that it has received notice that medical research funding in the amount of $1 million has been approved by the Congressional House and Senate. The funding will accelerate the development of the Company's proprietary solution in the fields of Human Organ and Tissue Preservation.

"The Government's decision to support our proprietary product confirms the potential of our technology," stated Joseph Fischer, President and Chief Executive Officer of Lifeblood Medical, Inc. "Once officially under contract with the U.S. Army, we will be closer to achieving our mission of revolutionizing the transplant industry and having no organ go unused. We look forward to collaborating with the U.S. Army on this groundbreaking research project. Our shared vision is to discover new and innovative applications that can save lives, reduce healthcare costs and improve the quality of life of Servicemen and women, as well as, the general public."

About Lifeblood Medical, Inc.

Lifeblood Medical, Inc., headquartered in Freehold NJ, is a cell culture/biotech company whose goal is to enhance and extend the quality of life in the field of organ, cell and tissue preservation through the utilization of our proprietary solutions and by providing key reagents to the research community.

We distribute high quality serum and reagents to the research community at competitive prices. Our products include Serum (including US and Australia Fetal Bovine Serum), Serum Enhancers, Antibiotics and Specialty Media.

Our proprietary solution is considered platform enabling technology, with the potential to address a multitude of applications through all segments of the tissue, cell and organ transplant markets by way of its unique serum free, animal protein free and oxygen carrying properties. For the cell and tissue preservation market we offer LiforCell(R) and LiforLab(R). For whole organ preservation, transportation and transplantation we offer LIFOR(R). LIFOR(R) is currently undergoing clinical trials for the support of heart and kidney harvesting, transporting and reimplantation. FDA submission is anticipated later this year. Additional information is available online at http://www.lifebloodmedical.com.